Niue, a sovereign state in free association with New Zealand, uses two official legal tender currencies. The New Zealand Dollar is the circulation currency for daily transactions, while the government also authorises legal tender coins in the Niue Dollar currency for collector's purposes.
A number of mints issue a large variety of commemorative, bullion and collector coins under the authority of Niue. These coins are dedicated to historical or general popular culture themes not related to Niue itself. Many of them are in standard bullion sizes based on the troy ounce, but some are in the metric system and go to the large size of one kilogram (1 kg) of silver.
The coins are "Non-Circulating Legal Tender" (NCLT) and not bullion because they are issued at prices much higher than their bullion value and are targeted at collectors who appreciate them for their artistic or sentimental value, and not at bullion investors.
This silver coin, called by the mint The Black Water Rabbit, is dedicated to the Chinese Lunar Year of the Rabbit 2023.
The mint says about it:
According to the Chinese horoscope, the Year of the Black Water Rabbit occurs only once every 60 years, so this year is sure to be exceptional. The Chinese believe that people born in the Year of the Rabbit are gentle and intelligent. They are family-oriented, friendly, so they are loved by many people and are the soul of the company. This is exactly how the rabbit is depicted on the new coin dedicated to this year’s host.
The Black Water Rabbit brings good luck, which is why the rabbit is held in high regard and has much symbolism in different cultures. At different times a rabbit’s foot or tail was used as an amulet of good luck and protection. It is still believed that a gift rabbit brings harmony, friendly relations, and warmth to the home. To convey these characteristics of the rabbit, we created a coin that defies time. | 
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